Colgate-Palmolive Company $CL Shares Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 23.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,614,070 shares of the company’s stock after purchasing an additional 689,131 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Colgate-Palmolive were worth $308,352,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp lifted its holdings in shares of Colgate-Palmolive by 97.4% in the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock valued at $8,635,889,000 after buying an additional 46,476,510 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Colgate-Palmolive by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock worth $1,240,652,000 after buying an additional 1,010,872 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Colgate-Palmolive by 1.1% during the second quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after acquiring an additional 88,917 shares during the period. Amundi grew its holdings in Colgate-Palmolive by 19.9% during the second quarter. Amundi now owns 6,218,257 shares of the company’s stock worth $570,090,000 after acquiring an additional 1,033,918 shares during the period. Finally, Bank of America Corp DE acquired a new stake in Colgate-Palmolive during the second quarter worth about $567,483,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CL shares. Raymond James Financial lifted their price target on Colgate-Palmolive from $100.00 to $102.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Morgan Stanley restated an “overweight” rating and issued a $104.00 price objective (up from $100.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $103.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group set a $106.00 price objective on shares of Colgate-Palmolive in a research note on Thursday, October 15th. Finally, Piper Sandler cut their target price on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, September 21st. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Colgate-Palmolive Price Performance

NYSE:CL opened at $94.47 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The stock’s 50-day moving average price is $89.10 and its 200-day moving average price is $89.17. The stock has a market capitalization of $75.31 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 4.52 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. Colgate-Palmolive’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. As a group, equities analysts expect that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Insider Activity

In other news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the transaction, the chief operating officer owned 64,901 shares in the company, valued at $5,974,137.05. This trade represents a 13.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 175,191 shares of company stock worth $16,110,903 over the last three months. 0.43% of the stock is currently owned by corporate insiders.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.